Consolidated Communications (NASDAQ:CNSL) Sets New 1-Year High – Here’s Why

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $4.72 and last traded at $4.68, with a volume of 549498 shares. The stock had previously closed at $4.63.

Consolidated Communications Price Performance

The firm has a market capitalization of $553.25 million, a P/E ratio of -2.28 and a beta of 0.98. The business has a 50-day moving average of $4.63 and a 200 day moving average of $4.52. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 10.13.

Institutional Investors Weigh In On Consolidated Communications

Several large investors have recently modified their holdings of CNSL. Vanguard Group Inc. boosted its holdings in Consolidated Communications by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,288,739 shares of the utilities provider’s stock valued at $22,847,000 after purchasing an additional 25,226 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Consolidated Communications by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,876,311 shares of the utilities provider’s stock worth $17,056,000 after purchasing an additional 48,609 shares during the last quarter. State Street Corp raised its stake in shares of Consolidated Communications by 2.5% during the third quarter. State Street Corp now owns 2,948,326 shares of the utilities provider’s stock valued at $13,680,000 after acquiring an additional 71,384 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Consolidated Communications by 34.1% in the 2nd quarter. Private Advisor Group LLC now owns 2,264,899 shares of the utilities provider’s stock worth $9,966,000 after buying an additional 575,340 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Consolidated Communications by 27.9% during the 2nd quarter. Hsbc Holdings PLC now owns 619,494 shares of the utilities provider’s stock valued at $2,723,000 after purchasing an additional 135,035 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Consolidated Communications Company Profile

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access, SIP trunking, and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; and data center and disaster recovery solutions.